Marathon Digital (NASDAQ:MARA) Earns Outperform Rating from Analysts at Macquarie

by · The Markets Daily

Macquarie initiated coverage on shares of Marathon Digital (NASDAQ:MARA – Free Report) in a report released on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $22.00 target price on the business services provider’s stock.

A number of other brokerages have also commented on MARA. JPMorgan Chase & Co. decreased their price objective on Marathon Digital from $14.00 to $12.00 and set an underweight rating on the stock in a report on Friday, August 23rd. HC Wainwright reaffirmed a buy rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Finally, B. Riley lifted their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a neutral rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Marathon Digital has an average rating of Hold and a consensus price target of $19.61.

Get Our Latest Stock Analysis on MARA

Marathon Digital Stock Performance

NASDAQ MARA opened at $17.52 on Tuesday. Marathon Digital has a 52-week low of $7.16 and a 52-week high of $34.09. The stock has a market cap of $4.95 billion, a PE ratio of 8.15 and a beta of 5.51. The firm has a 50-day moving average of $17.19 and a 200-day moving average of $18.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Marathon Digital (NASDAQ:MARA – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. During the same quarter last year, the business earned ($0.13) earnings per share. The company’s revenue was up 77.5% on a year-over-year basis. On average, sell-side analysts anticipate that Marathon Digital will post -1.06 EPS for the current year.

Insider Activity at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at $33,022,547.90. The disclosure for this sale can be found here. Insiders sold a total of 46,212 shares of company stock valued at $726,178 over the last quarter. 1.11% of the stock is owned by corporate insiders.

Institutional Trading of Marathon Digital

Institutional investors and hedge funds have recently modified their holdings of the business. SRN Advisors LLC grew its position in Marathon Digital by 136.4% in the second quarter. SRN Advisors LLC now owns 151,252 shares of the business services provider’s stock valued at $3,002,000 after acquiring an additional 87,274 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Marathon Digital in the 2nd quarter valued at approximately $1,518,000. Cetera Investment Advisers grew its holdings in shares of Marathon Digital by 58.5% during the 2nd quarter. Cetera Investment Advisers now owns 259,447 shares of the business services provider’s stock valued at $5,150,000 after purchasing an additional 95,774 shares during the last quarter. Second Line Capital LLC acquired a new position in Marathon Digital during the 2nd quarter worth approximately $4,060,000. Finally, Creative Planning lifted its stake in Marathon Digital by 26.4% in the 2nd quarter. Creative Planning now owns 28,890 shares of the business services provider’s stock valued at $573,000 after purchasing an additional 6,035 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

(Get Free Report)

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.

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